Commodities Daily - February 28, 2018
Oil prices slip amid dollar strength and fall in US equities. We think the EIA will report a 2 mln bbl weekly build in US crude stocks. The stronger dollar, the weekly crude stock build and a bearish 914 oil production report are likely to pressure Brent down to $65/bbl later today.Gold plummets on signals of faster US rate hikes from Fed chairman. We think that Fed Chairman Jerome Powell’s comments before Congress yesterday are set to continue echoing in global markets today. The dollar should see continued support as the markets price in the increased likelihood of four Fed hikes this year, so we expect gold to drop close to $1,310/oz later in the day.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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